Economic agency unsure of future

May 21, 2003|By Dean Geroulis.

PARK RIDGE — The city's lead agency for economic development has asked the City Council to decide soon whether it plans to continue funding it.

In a presentation to aldermen Monday night, Jeff Beutler, chairman-elect of the Economic Development Corp. of Park Ridge, said the uncertainty could cost the agency some of its private-sector contributions and send the wrong signal to developers thinking about investing in Park Ridge.

"The private sector will not support economic development if you don't," Beutler said.

Two weeks ago, the council authorized six months of funding for the organization, with a re-evaluation after that period. The organization normally gets an annual contribution and was expecting $79,800 for the fiscal year beginning June 1.

Some aldermen blamed the corporation for vacant storefronts in the city's central business district.

Beutler said the corporation has neither the authority nor the resources to tell business owners how to run their stores, force building owners to upgrade their property or provide financial incentives.